Origis Energy, a renewable energy platform, reached financial close on an approximately $545 million senior secured project financing with Natixis Corporate & Investment Banking and Santander Corporate & Investment Banking for three utility-scale solar projects (the Rockhound Projects).
The portfolio, located in Ector County, Texas, has a combined installed capacity of 413 MW. All three projects are currently under construction, with commercial operations expected in summer 2026.
The senior secured credit facilities comprise a construction loan, term loan, tax credit bridge, and letter of credit facilities supporting both the construction and operating phases of the projects.
Natixis CIB and Santander served as joint underwriters, coordinating lead arrangers, and co-green loan coordinators for the transaction, with Natixis CIB acting as administrative agent. U.S. Bank National Association served as collateral agent.
Latham & Watkins represented Origis Energy in the transaction, while Milbank represented the lenders.
“This financing reflects the quality of the Rockhound portfolio and the confidence our capital partners place in Origis’ ability to execute complex, multi-project transactions with discipline and scale,” said Alice Heathcote, Chief Financial Officer of Origis Energy. “Natixis and Santander have been exceptional partners throughout the process. Together, we are advancing resilient, long-term energy infrastructure in Texas while delivering meaningful economic benefits to local communities.”
The financing represents the next phase of the company’s multi-project solar complex in West Texas, which is expected to total over 700 MW upon completion. The complex also includes the Swift Air Solar II and Swift Air Solar III projects, which reached financial close in 2025.
In 2026, the company also closed an investment of $340 million in tax equity capital to support a 413 MW utility-scale solar project in Ector County, Texas. The investment was made through a Crux-managed vehicle with Origis Energy as a hybrid partnership flip designed to optimize monetization of its federal investment tax credits through the use of transferability.
Large-scale solar project funding increased by 37% in 2025 compared with the funding raised in 2024, according to Mercom’s recently released Annual and Q4 2025 Solar Funding and M&A report.
